Deductible Options

LAWPRO offers deductible options from $nil to $25,000. You can also choose to have the deductible apply to both claim expenses and indemnity payments, or to indemnity payments only. Premiums will increase or decrease depending on the deductible option you select.

Here are some things to keep in mind when making your choice of deductible:

Each lawyer practising in a law partnership (including general partnerships, multi-discipline partnerships, combined licensee partnerships and LLPs) or law corporation must elect the same amount and type of deductible as all other lawyers in the firm.

The deductible is double the amount selected if a lawyer acts for more than one person or organization having an apparent or alleged conflict of interest.

The deductible is $10,000 more than the amount selected if there has been an administrative dismissal that is not set aside despite steps taken by or under the direction of LAWPRO, and will apply to claim expenses, indemnity payments and/or costs of repairs.

Deductibles that apply to indemnity payments and/or costs of repairs only are called on for judgments, settlements and/or costs of repairs onl, unless otherwise indicated in the policy. The deductible applies to these amounts together, and is called on as these expenditures become due.

Deductibles which apply to claim expenses, indemnity payments and/or costs of repairs together, would be called on in respect of covered investigation and defence expenses, as well as judgments, settlements and/or costs of repairs. This is even if the claim is considered to be frivolous, vexatious or lacking in merit. The deductible would apply to these amounts together, and would be called on as these expenditures become due.

DEDUCTIBLE TYPE

CONDITIONS/RESTRICTIONS

PREMIUM

$Nil deductible

Available only to lawyers [and paralegal partner(s) or shareholder(s)] for whom LAWPRO has received no notice of claim(s) or potential claim(s) under the insurance program within 5 years previous to the policy effective date. For claims arising out of title-insured transactions on which a transaction levy surcharge is not payable, $Nil deductible will be deemed to be $500 applicable to indemnity payments and/or costs of repairs. For claims involving counterfeit certified cheque(s) or counterfeit bank draft(s), the standard $5,000 deductible will apply.

Not available to in-house corporate counsel, government lawyers and other lawyers not in private practice.

Sole practitioners and lawyers practising
alone in a law corporation must have had gross billings in private practice of $400,000 or more in their last fiscal year. Lawyers (and non-lawyer partners in CLPs or MDPs, if applicable) practising in partnership or association and lawyers practising in a law corporation with more than one lawyer, must have had average gross billings of $250,000 or more (on average per lawyer for all lawyers in the partnership or association) in their last fiscal year.

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LAWPRO provides errors and omissions insurance to more than 27,000 members of the Law Society of Ontario. LAWPRO's TitlePLUS title insurance program is available to Canadian lawyers and Quebec notaries.